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Whose Money Is It Anyway? Dealing with Unclaimed Payments for Missing Persons
We get a lot of calls from clients regarding how to handle unclaimed payments related to life income gifts. We can help clients with the mechanical aspects in GiftWrap, of course, but the real challenges have more to do with policies and protocol. What is the right way to manage the payments that are due to people whose whereabouts are unknown? And how long is a charity – or an agent thereof –supposed to hold those funds before state laws dictate specific actions under abandoned property laws? We will go over those issues in this article.
PLEASE NOTE: PG Calc will be closed Wednesday, June 19 in observance of the Juneteenth holiday and will be back on our usual schedule on Thursday.
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